Intel Just Got Smoked By AMD In the Race to Unleash a Super Chip

Technology giant Intel (INTC - Get Report) said on Monday that its recently debuted Core i9 Extreme Edition, a chip with speed capabilities of supercomputing levels of a few decades ago, won't be available until October.

As a result, semiconductor firm Advanced Micro Devices (AMD - Get Report) appears to have pulled ahead of Intel in the race to provide video gamers and other PC performance fans the latest and most advanced chips.

Last month AMD announced that its state of the art Ryzen line of chips would include a top-performing model called the Threadripper, and would be available at the end of July.

On Thursday morning, shares of AMD rose 2.1% to $14.27, while shares of Intel fell 0.7% to $34.34.

What's Hot On the TheStreet

All eyes on Apple this week: Apple's (AAPL - Get Report) stock will be on the minds of Wall Street bit more than the norm this week. Shares of the tech giant have fallen 6.9% since the Nasdaq's peak on June 8 amid a broader selloff in tech. Not helping near-term sentiment on the company are two rare analyst downgrades that have questioned how big a seller the iPhone 8 will be.

But investors shouldn't be ready to throw in the towel on Apple by any stretch of the imagination.

After the deal was announced on Friday, U.S. Rep. Ro Khanna (D-Calif.) urged the U.S. Department of Justice to conduct a review on the merger's legality and possible harm to the economy.

"I am concerned about what this deal means for suppliers and neighborhood grocery stores," Khanna said in a statement. "The Justice Department and FTC must undertake a review that considers not just the merger's impact on prices, but also the impact on jobs and wages. We need to reorient antitrust policy to factor in the harm that economic concentration causes for American workers."

Meanwhile, Whole Foods shares are trading above Amazon's offer price as to suggest a bidding war may ensue.